Business
Metalex Closes Third Tranche of Private Placement
Metalex Closes Third Tranche of Private Placement Canada NewsWire KEL...
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n \n \n \n Metalex Closes Third Tranche of Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n KELOWNA, BC\n \n ,\n \n Dec. 31, 2020\n \n /CNW/ - Further to news releases on\n \n December 11\n \n and 17, 2020,\n \n Metalex Ventures Ltd.\n \n (MTX: TSXV) (the \"\n \n Company\n \n \") is pleased to announce the closing of the third tranche of its private placement (the \"\n \n Placement\n \n \"), resulting in gross proceeds of\n \n $530,500\n \n .  This tranche consisted of the issuance of 2,700,000 flow through shares (\"the shares\") and 4,300,000 non flow through units (\"the units\").  The shares were sold at a price of\n \n $0.085\n \n per share and units were sold at a price of\n \n $0.07\n \n per unit; each unit is comprised of one common share and one-half warrant.  Each full warrant entitles the holder to acquire a further common share of the Company at a price of\n \n $0.10\n \n for a term of two years.\n \n \n All securities issued in the Placement are subject to a hold period expiring\n \n May 1, 2021\n \n . Finders' fees of\n \n $37,135\n \n were paid and 619,706 finders' warrants were issued in connection with this tranche of the Placement.  Finders' warrants have the same terms as the Placement warrants.\n \n \n Proceeds from the Placement will be applied to the upcoming exploration program on the Company's\n \n Quebec\n \n properties, as well as for general working capital of the Company.\n \n \n Signed,\n \n \n \n \n Charles Fipke\n \n \n \n \n \n Charles Fipke\n \n \n Chairman\n \n \n Forward Looking Statements\n \n \n Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties.  Without limitation, statements regarding potential mineralization and resources, exploration and financing results, and future plans and objectives of the Company are forward looking statements that involve various risks.  The following are important factors that could cause the Company's actual results to differ mate...